VANCOUVER,
BC, July 7, 2024 /PRNewswire/ -
July 8, 2024 – Sydney, Australia
Highlights
- Significant expansion to the recently discovered high-grade
Vega Zone at the CV13 Spodumene Pegmatite. Highlights from the
2024 winter drill program include:
- 51.7 m at 1.77%
Li2O, including 9.7
m at 5.16% Li2O (CV24-525).
- 35.3 m at 2.40%
Li2O, including 17.4
m at 3.12% Li2O (CV24-520).
- 34.8 m at 1.87%
Li2O, including 19.1
m at 3.17% Li2O (CV24-524).
- 41.5 m at 2.00%
Li2O, including 10.6
m at 3.50% Li2O (CV24-510).
- Vega Zone is interpreted to be relatively flat-lying to
shallowly dipping and near-surface, covering an area of ~380 m x
220 m with a true thickness of ~8 to
30+ m, hosted within a wider mineralized pegmatite body. It
remains open in several directions.
- Results for all drill holes completed during the 2024 winter
program have now been reported – 50,961
m (121 holes) at CV5 and 11,557
m (45 holes) at CV13.
- The Vega Zone is a key target for the ongoing summer-fall drill
program, with the mineralization delineated to date remaining open
in several directions.
- Patriot remains on schedule for a Mineral Resource Estimate
update for the Corvette Project in August
2024, including both the CV5 and CV13 spodumene
pegmatites.
Darren L. Smith,
Patriot's Vice President of Exploration comments, "The final
holes from our recently completed winter drill program at CV13
confirm a significant discovery of high-grade spodumene pegmatite
at the Vega Zone, with high-grade mineralisation now defined over a
significant area."
"With such high grades present at the Vega
Zone – akin to what we see at the Nova Zone at CV5 – including
a standout 9.7 m intercept grading over 5% Li2O,
the new results clearly validate the considerable potential at CV13
as well as that of the larger mineralized system at Corvette. We
intend to further delineate this discovery as part of our recently
commenced summer-fall drill program," added Mr. Smith.
Patriot Battery Metals Inc. (the "Company" or
"Patriot") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE:
R9GA) is pleased to announce the final batch of core assay
results from the CV13 Spodumene Pegmatite from its 2024 winter
drill program at the Corvette Property, including holes targeting
the recently discovered high-grade Vega Zone.
The 100%-owned Corvette Property (the "Property"
or "Project") is located in the Eeyou Istchee James Bay region of
Quebec. The CV13 Spodumene
Pegmatite is located approximately 3 km west-southwest of the
CV5 Spodumene Pegmatite, which hosts a maiden Mineral Resource
Estimate ("MRE") of 109.2 Mt at 1.42% Li2O
Inferred1 and is situated approximately 13.5 km south of
the regional and all‑weather Trans-Taiga Road and powerline
infrastructure.
Core assay results for 16 drill holes, completed
during the 2024 winter drill program at the CV13 Spodumene
Pegmatite, are reported in this announcement (Figure 2 and Table
1). This is the final batch of core assay results for CV13 drill
holes from this program. Highlights, each from the Vega Zone,
include:
- 51.7 m at 1.77%
Li2O, including 9.7
m at 5.16% Li2O (CV24-525).
- 35.3 m at 2.40%
Li2O, including 17.4
m at 3.12% Li2O (CV24-520).
- 34.8 m at 1.87%
Li2O, including 19.1
m at 3.17% Li2O (CV24-524).
- 41.5 m at 2.00%
Li2O, including 10.6
m at 3.50% Li2O (CV24-510).
These four drill holes (CV24-510, 520, 524, and
525) were completed as follow-up to the discovery hole at the Vega
Zone (CV24-470), which returned 34.4
m at 2.90% Li2O, including 21.9 m at 3.58% Li2O (see news
release dated May 6, 2024), and drill
holes reported on June 10, 2024
(CV24-498, 499, 507, and 513).
The highest-grade intercept (of significant
width) to date from CV13 is reported in this announcement from
drill hole CV24-525 (9.7 m at
5.16% Li2O), which was the last drill hole to
target the Vega Zone during the 2024 winter program (Figure 5).
This drill hole contains five individual core samples (each ranging
from 1.1 m to 2.0 m in width) with assays >5%
Li2O, and nine samples >3% Li2O.
Geological modelling (see preliminary
cross-sections in Figure 1, Figure 3, and Figure 4) indicates the
Vega Zone to be relatively flat-lying to shallow dipping and
near-surface (starting at ~100 m vertical depth from surface),
covering an area of approximately 380 by 220 m (drill hole intercept to drill hole
intercept) with an interpreted true thickness of ~8 to 30+
m, hosted within a wider moderately to strongly mineralized
pegmatite body. The Vega Zone remains open in several
directions following the 2024 winter drill program.
The high-grade Vega Zone at CV13 Pegmatite is
situated approximately 6 km south-west and along geological trend
of the high-grade Nova Zone at the CV5 Pegmatite. Both zones share
several similarities including lithium grades and very coarse
decimetre to metre size spodumene crystals (Figure 6). However,
both pegmatite zones have distinct orientations whereby the Vega
Zone is relatively flat-lying to shallow dipping while the Nova
Zone is steeply dipping to vertical.
Along the western arm of CV13, drill hole
CV24-506 demonstrates that the pegmatite remains mineralized and
open at depth in this area with an intercept of 8.2 m at 1.14% Li2O (Figure 7). The
principal pegmatite in this area dips north-easterly at
approximately 25° and ranges in thickness from approximately
7 m to 19 m.
To date, the CV13 Spodumene Pegmatite, through
outcrop and drill hole data, is confirmed to extend over a strike
length of at least 2.3 km and down-dip for at least 400 m, and remains open at both ends and to
depth.
Results for all drill holes completed during the
2024 winter program have now been reported – 50,961 m
(121 holes) at CV5 and 11,557 m (45
holes) at CV13. An updated MRE for the Corvette Project,
incorporating drilling through April
2024 (i.e., end of the 2024 winter drill program) at both
the CV5 and CV13 pegmatites, is scheduled for August 2024.
A follow-up drill program at CV13, focused on
further delineation of the high-grade Vega Zone, is currently
underway as part of this summer-fall drill program. Approximately
10,000 m of drilling is under
consideration targeting the CV13 Spodumene Pegmatite's Vega Zone
and the immediate corridor eastwards towards the CV5 Spodumene
Pegmatite.
However, the primary focus and objective of the
summer-fall program will be drilling at the CV5 Spodumene Pegmatite
to support an increase in MRE confidence from the Inferred category
to the Indicated category. This work is designed to underpin a
Mineral Resource Estimate of sufficient scale and confidence (i.e.,
Indicated classification) to support the Feasibility Study for the
Project, which is currently scheduled for completion in the second
half of 2025.
Core sample assays for drill holes reported
herein from the CV13 Spodumene Pegmatite are presented in Table 1
for all pegmatite intersections >2
m. Drill hole locations and attributes are presented in
Table 2.
1 The CV5 Mineral Resource
Estimate (109.2 Mt at 1.42% Li2O and 160 ppm
Ta2O5 Inferred) is reported at a cut-off
grade of 0.40% Li2O with effective date of June 25, 2023 (through drill hole
CV23-190). Mineral Resources are not Mineral Reserves as
they do not have demonstrated economic viability. Largest lithium
pegmatite resource in the Americas based on contained LCE.
Quality Assurance / Quality
Control (QAQC)
A Quality Assurance / Quality Control protocol
following industry best practices was incorporated into the program
and included systematic insertion of quartz blanks and certified
reference materials into sample batches at a rate of approximately
5%. Additionally, analysis of pulp-split sample duplicates was
completed to assess analytical precision, and external (secondary)
laboratory pulp-split duplicates were prepared at the primary lab
for subsequent check analysis and validation.
All core samples collected were shipped to SGS
Canada's laboratory in Val-d'Or,
QC, or Radisson, QC, for
sample preparation (code PRP90 special) which includes drying at
105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize
85% passing 75 microns. The pulps were shipped by air to SGS
Canada's laboratory in Burnaby,
BC, where the samples were homogenized and subsequently
analyzed for multi-element (including Li and Ta) using sodium
peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and
GE_IMS91A50).
About the CV Lithium
Trend
The CV Lithium Trend is an emerging spodumene
pegmatite district discovered by the Company in 2017 and is
interpreted to span more than 50 kilometres across the Corvette
Property. The core area includes the approximate 4.6 km long CV5
Spodumene Pegmatite, which hosts a maiden Mineral Resource estimate
of 109.2 Mt at 1.42% Li2O Inferred1.
To date, eight (8) distinct clusters of lithium pegmatite have
been discovered across the Corvette Property – CV4, CV5, CV8,
CV9, CV10, CV12, CV13, and the recently discovered CV14. Given the
proximity of some pegmatite outcrops to each other, as well as the
shallow till cover in the area, it is probable that some of the
outcrops may reflect a discontinuous surface exposure of a single,
larger pegmatite "outcrop" subsurface.
Qualified/Competent
Person
The information in this news release that relates
to exploration results for the Corvette Property is based on, and
fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a
Qualified Person as defined by National Instrument 43-101 –
Standards of Disclosure for Mineral Projects, and member in
good standing with the Ordre des Géologues du Québec
(Geologist Permit number 01968), and with the Association of
Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith
has reviewed and approved the technical information in this news
release.
Mr. Smith is Vice President of Exploration for
Patriot Battery Metals Inc. and holds common shares and options in
the Company.
Mr. Smith has sufficient experience, which is
relevant to the style of mineralization, type of deposit under
consideration, and to the activities being undertaken to qualify as
a Competent Person as described by the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves (the JORC Code). Mr. Smith consents to the inclusion in
this news release of the matters based on his information in the
form and context in which it appears.
About Patriot Battery Metals
Inc.
Patriot Battery Metals Inc. is a hard-rock
lithium exploration company focused on advancing its district-scale
100% owned Corvette Property located in the Eeyou Istchee James Bay
region of Quebec, Canada, and
proximal to regional road and powerline infrastructure. The
Corvette Property hosts the CV5 Spodumene Pegmatite with a maiden
Mineral Resource Estimate of 109.2 Mt at 1.42% Li2O
Inferred1 and ranks as the largest lithium pegmatite
resource in the Americas based on contained lithium carbonate
equivalent (LCE), and one of the top 10 largest lithium pegmatite
resources in the world. Additionally, the Corvette Property hosts
multiple other spodumene pegmatite clusters that remain to be drill
tested, as well as significant areas of prospective trend that
remain to be assessed.
1 The CV5 Mineral Resource
Estimate (109.2 Mt at 1.42% Li2O and 160 ppm
Ta2O5 Inferred) is reported at a cut-off
grade of 0.40% Li2O with an Effective Date of
June 25, 2023 (through drill
hole CV23-190). Mineral Resources are not Mineral Reserves
as they do not have demonstrated economic viability. Largest
lithium pegmatite resource in the Americas based on contained
LCE.
For further information, please contact us at
info@patriotbatterymetals.com or by calling +1 (604) 279-8709, or
visit www.patriotbatterymetals.com. Please also refer to the
Company's continuous disclosure filings, available under its
profile at www.sedarplus.ca and www.asx.com.au, for available
exploration data.
This news release has been approved by the Board of
Directors.
"KEN
BRINSDEN"
Kenneth Brinsden, President, CEO,
& Managing Director
Disclaimer for Forward-looking Information
This news release contains "forward-looking
information" or "forward-looking statements" within the meaning of
applicable securities laws and other statements that are not
historical facts. Forward-looking statements are included to
provide information about management's current expectations and
plans that allows investors and others to have a better
understanding of the Company's business plans and financial
performance and condition.
All statements, other than statements of
historical fact included in this news release, regarding the
Company's strategy, future operations, technical assessments,
prospects, plans and objectives of management are forward-looking
statements that involve risks and uncertainties. Forward-looking
statements are typically identified by words such as "plan",
"expect", "estimate", "intend", "anticipate", "believe", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved. Forward-looking statements
in this release include, but are not limited to, statements
concerning: the completion and release of an updated MRE on the
Property, the potential of the Vega Zone, statements relating to
the continuity of spodumene pegmatite at CV5, and statements about
the probability that some of the outcrops may reflect a
discontinuous surface exposure of a single, larger pegmatite
"outcrop" subsurface.
Forward-looking information is based upon certain
assumptions and other important factors that, if untrue, could
cause the actual results, performance or achievements of the
Company to be materially different from future results, performance
or achievements expressed or implied by such information or
statements. There can be no assurance that such information or
statements will prove to be accurate. Key assumptions upon which
the Company's forward-looking information is based include that
proposed exploration and mineral resource estimate work on the
Property will continue as expected, and that exploration and
development results continue to support management's current plans
for Property development.
Readers are cautioned that the foregoing list is
not exhaustive of all factors and assumptions which may have been
used. Forward-looking statements are also subject to risks and
uncertainties facing the Company's business, any of which could
have a material adverse effect on the Company's business, financial
condition, results of operations and growth prospects. Some of the
risks the Company faces and the uncertainties that could cause
actual results to differ materially from those expressed in the
forward-looking statements include, among others, the ability to
execute on plans relating to the Company's Project, including the
timing thereof. In addition, readers are directed to carefully
review the detailed risk discussion in the Company's most recent
Annual Information Form filed on SEDAR+, which discussion is
incorporated by reference in this news release, for a fuller
understanding of the risks and uncertainties that affect the
Company's business and operations.
Although the Company believes its expectations
are based upon reasonable assumptions and has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. As such, these risks are not exhaustive; however, they
should be considered carefully. If any of these risks or
uncertainties materialize, actual results may vary materially from
those anticipated in the forward-looking statements found herein.
Due to the risks, uncertainties and assumptions inherent in
forward-looking statements, readers should not place undue reliance
on forward-looking statements.
Forward-looking statements contained herein are
presented for the purpose of assisting investors in understanding
the Company's business plans, financial performance and condition
and may not be appropriate for other purposes.
The forward-looking statements contained herein
are made only as of the date hereof. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except to the extent required by applicable law. The
Company qualifies all of its forward-looking statements by these
cautionary statements.
Competent Person Statement (ASX Listing Rule
5.22)
The mineral resource estimate in this release was
reported by the Company in accordance with ASX Listing Rule 5.8 on
July 31, 2023. The Company confirms
that, as of the date of this announcement, it is not aware of any
new information or data verified by the competent person that
materially affects the information included in the announcement and
that all material assumptions and technical parameters underpinning
the estimates in the announcement continue to apply and have not
materially changed. The Company confirms that, as at the date of
this announcement, the form and context in which the competent
person's findings are presented have not been materially modified
from the original market announcement.
Appendix 1 – JORC Code 2012 Table
1 (ASX Listing Rule 5.7.1)
Section 1 – Sampling Techniques
and Data
Criteria
|
JORC Code explanation
|
Commentary
|
Sampling
techniques
|
- Nature and quality
of sampling (eg cut channels, random chips, or specific specialized
industry standard measurement tools appropriate to the minerals
under investigation, such as down hole gamma sondes, or handheld
XRF instruments, etc). These examples should not be taken as
limiting the broad meaning of sampling.
- Include reference
to measures taken to ensure sample representivity and the
appropriate calibration of any measurement tools or systems
used.
- Aspects of the
determination of mineralization that are Material to the Public
Report.
- In cases where
'industry standard' work has been done this would be relatively
simple (eg 'reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverized to produce a 30 g charge for
fire assay'). In other cases more explanation may be required, such
as where there is coarse gold that has inherent sampling problems.
Unusual commodities or mineralization types (eg submarine nodules)
may warrant disclosure of detailed information.
|
- Core sampling
protocols meet industry standard practices.
- Core sampling is
guided by lithology as determined during geological logging (i.e.,
by a geologist). All pegmatite intervals are sampled in their
entirety (half-core), regardless if spodumene mineralization is
noted or not (in order to ensure an unbiased sampling approach) in
addition to ~1 to 3 m of sampling into the adjacent host rock
(dependent on pegmatite interval length) to "bookend" the sampled
pegmatite.
- The minimum
individual sample length is typically 0.5 m and the maximum
sample length is typically 2.0 m. Targeted individual
pegmatite sample lengths are 1.0 to 1.5 m.
- All drill core is
oriented to maximum foliation prior to logging and sampling and is
cut with a core saw into half-core pieces, with one half-core
collected for assay, and the other half-core remaining in the box
for reference.
- Core samples
collected from drill holes were shipped to SGS Canada's laboratory
in Val-d'Or, QC, or Radisson,
QC, for sample preparation (code PRP90 special) which
included drying at 105°C, crush to 90% passing 2 mm, riffle split
250 g, and pulverize 85% passing 75 microns. Core sample pulps were
shipped by air to SGS Canada's laboratory in Burnaby, BC, where the
samples were homogenized and subsequently analyzed for
multi-element (including Li and Ta) using sodium peroxide fusion
with ICP-AES/MS finish (codes GE_ICP91A50 and
GE_IMS91A50).
|
Drilling
techniques
|
- Drill type (eg
core, reverse circulation, open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other
type, whether core is oriented and if so, by what method,
etc).
|
- NQ or HQ size core
diamond drilling was completed for all holes. Core was not
oriented.
|
Drill sample
recovery
|
- Method of recording
and assessing core and chip sample recoveries and results
assessed.
- Measures taken to
maximize sample recovery and ensure representative nature of the
samples.
- Whether a
relationship exists between sample recovery and grade and whether
sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
|
- All drill core was
geotechnically logged following industry standard practices, and
include TCR, RQD, ISRM, and Q-Method. Core recovery is very good
and typically exceeds 90%.
|
Logging
|
- Whether core and
chip samples have been geologically and geotechnically logged to a
level of detail to support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
- Whether logging is
qualitative or quantitative in nature. Core (or costean, channel,
etc) photography.
- The total length
and percentage of the relevant intersections logged.
|
- Upon receipt at the
core shack, all drill core is pieced together, oriented to maximum
foliation, metre marked, geotechnically logged (including
structure), alteration logged, geologically logged, and sample
logged on an individual sample basis. Core box photos are also
collected of all core drilled, regardless of perceived
mineralization. Specific gravity measurements of pegmatite are also
collected at systematic intervals for all pegmatite drill core
using the water immersion method, as well as select host rock drill
core.
- The logging is
qualitative by nature, and includes estimates of spodumene grain
size, inclusions, and model mineral estimates.
- These logging
practices meet or exceed current industry standard
practices.
|
Sub-sampling
techniques and
sample preparation
|
- If core, whether
cut or sawn and whether quarter, half or all core
taken.
- If non-core,
whether riffled, tube sampled, rotary split, etc and whether
sampled wet or dry.
- For all sample
types, the nature, quality and appropriateness of the sample
preparation technique.
- Quality control
procedures adopted for all sub-sampling stages to maximize
representivity of samples.
- Measures taken to
ensure that the sampling is representative of the in situ material
collected, including for instance results for field
duplicate/second-half sampling.
- Whether sample
sizes are appropriate to the grain size of the material being
sampled.
|
- Drill core sampling
follows industry best practices. Drill core was saw-cut with
half-core sent for geochemical analysis and half-core remaining in
the box for reference. The same side of the core was sampled to
maintain representativeness.
- Sample sizes are
appropriate for the material being assayed.
- A Quality Assurance
/ Quality Control (QAQC) protocol following industry best practices
was incorporated into the program and included systematic insertion
of quartz blanks and certified reference materials (CRMs) into
sample batches at a rate of approximately 5% each. Additionally,
analysis of pulp-split duplicates was completed to assess
analytical precision, and external (secondary) laboratory
pulp-split duplicates were prepared at the primary lab for
subsequent check analysis and validation at a secondary
lab.
- All protocols
employed are considered appropriate for the sample type and nature
of mineralization and are considered the optimal approach for
maintaining representativeness in sampling.
|
Quality of assay
data and laboratory
tests
|
- The nature, quality
and appropriateness of the assaying and laboratory procedures used
and whether the technique is considered partial or
total.
- For geophysical
tools, spectrometers, handheld XRF instruments, etc, the parameters
used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their
derivation, etc.
- Nature of quality
control procedures adopted (eg standards, blanks, duplicates,
external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been
established.
|
- Core samples
collected from drill holes were shipped to SGS Canada's laboratory
in Val-d'Or, QC, or Radisson,
QC, for standard sample preparation (code PRP90 special)
which included drying at 105°C, crush to 90% passing 2 mm, riffle
split 250 g, and pulverize 85% passing 75 microns. Core sample
pulps were shipped by air to SGS Canada's laboratory in Burnaby,
BC, where the samples were homogenized and subsequently analyzed
for multi-element (including Li and Ta) using sodium peroxide
fusion with ICP-AES/MS finish (codes GE_ICP91A50 and
GE_IMS91A50).
- The Company relies
on both its internal QAQC protocols (systematic use of blanks,
certified reference materials, and external checks), as well as the
laboratory's internal QAQC.
- All protocols
employed are considered appropriate for the sample type and nature
of mineralization and are considered the optimal approach for
maintaining representativeness in sampling.
|
Verification of
sampling and
assaying
|
- The verification of
significant intersections by either independent or alternative
company personnel.
- The use of twinned
holes.
- Documentation of
primary data, data entry procedures, data verification, data
storage (physical and electronic) protocols.
- Discuss any
adjustment to assay data.
|
- Intervals are
reviewed and compiled by the VP Exploration and Project Managers
prior to disclosure, including a review of the Company's internal
QAQC sample analytical data.
- Data capture
utilizes MX Deposit software whereby core logging data is entered
directly into the software for storage, including direct import of
laboratory analytical certificates as they are received. The
Company employs various on-site and post QAQC protocols to ensure
data integrity and accuracy.
- Adjustments to data
include reporting lithium and tantalum in their oxide forms, as it
is reported in elemental form in the assay certificates. Formulas
used are Li2O = Li x 2.153, and
Ta2O5 = Ta x 1.221.
|
Location of data
points
|
- Accuracy and
quality of surveys used to locate drill holes (collar and down-hole
surveys), trenches, mine workings and other locations used in
Mineral Resource estimation.
- Specification of
the grid system used.
- Quality and
adequacy of topographic control.
|
- Each drill hole's
collar has been surveyed with a RTK Trimble
Zephyr 3.
- The coordinate
system used is UTM NAD83 Zone 18.
- The Company
completed a property-wide LiDAR and orthophoto survey in August
2022, which provides high-quality topographic control.
- The quality and
accuracy of the topographic controls are considered adequate for
advanced stage exploration and development, including mineral
resource estimation.
|
Data spacing and
distribution
|
- Data spacing for
reporting of Exploration Results.
- Whether the data
spacing and distribution is sufficient to establish the degree of
geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and
classifications applied.
- Whether sample
compositing has been applied.
|
- At CV5, drill hole
collar spacing is dominantly grid based. Several collars are
typically completed from the same pad at varied orientations
targeting pegmatite pierce points of ~50 to 100 m
spacing.
- At CV13, drill hole
spacing is a combination of grid based (at ~100 spacing) and fan
based with multiple holes collared from the same pad. Therefore,
collar locations and hole orientations may vary widely, which
reflect the varied orientation of the pegmatite body along
strike.
- At CV9, drill hole
collar spacing is irregular with varied hole orientations and
multiple collars on the same pad.
- It is interpreted
that the large majority of the drill hole spacing at each pegmatite
is sufficient to support a mineral resource estimate.
- Core sample lengths
typically range from 0.5 to 2.0 m and average ~1.0 to 1.5 m.
Sampling is continuous within all pegmatite encountered in the
drill hole.
|
Orientation of data
in relation to
geological structure
|
- Whether the
orientation of sampling achieves unbiased sampling of possible
structures and the extent to which this is known, considering the
deposit type.
- If the relationship
between the drilling orientation and the orientation of key
mineralized structures is considered to have introduced a sampling
bias, this should be assessed and reported if material.
|
- No sampling bias is
anticipated based on structure within the mineralized
body.
- The principal
mineralized bodies are relatively undeformed and very competent,
although have some meaningful structural control.
- At CV5, the
principal mineralized body and adjacent lenses are steeply dipping
resulting in oblique angles of intersection with true widths
varying based on drill hole angle and orientation of pegmatite at
that particular intersection point. i.e., the dip of the
mineralized pegmatite body has variations in a vertical sense and
along strike, so the true widths are not always apparent until
several holes have been drilled (at the appropriate spacing) in any
particular drill-fence.
- At CV13, the
principal pegmatite body has a shallow varied strike and northerly
dip.
- At CV9, the
orientation and geometry of the pegmatite is not well understood.
The pegmatite is currently interpreted to be comprised of a single
principal dyke, which outcrops at surface, has a steep northerly
dip, and is moderately plunging to the east-southeast.
|
Sample
security
|
- The measures taken
to ensure sample security.
|
- Samples were
collected by Company staff or its consultants following specific
protocols governing sample collection and handling. Core samples
were bagged, placed in large supersacs for added security,
palleted, and shipped directly to Val-d'Or, QC, or Radisson, QC,
being tracked during shipment along with Chain of Custody. Upon
arrival at the laboratory, the samples were cross-referenced with
the shipping manifest to confirm all samples were accounted for. At
the laboratory, sample bags are evaluated for
tampering.
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Audits or
reviews
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- The results of any
audits or reviews of sampling techniques and data.
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- A review of the
sample procedures for the Company's 2021 fall drill program
(CF21-001 to 004) and 2022 winter drill program (CV22-015 to 034)
was completed by an Independent Competent Person and deemed
adequate and acceptable to industry best practices (discussed in a
technical report titled "NI 43-101 Technical Report on the Corvette
Property, Quebec, Canada", by Alex Knox, M.Sc., P.Geol., Issue Date
of June 27th, 2022.)
- A review of the
sample procedures through the Company's 2023 winter drill program
(through CV23-190) was completed by an independent Competent Person
with respect to the CV5 Pegmatite's maiden mineral resource
estimate and deemed adequate and acceptable to industry best
practices (discussed in a technical report titled " NI 43‑101
Technical Report, Mineral Resource Estimate for the CV5 Pegmatite,
Corvette Property" by Todd McCracken, P.Geo., of BBA Engineering
Ltd., and Ryan Cunningham, M.Eng., P.Eng., of Primero Group
Americas Inc., Effective Date of June 25, 2023, and Issue Date of
September 8, 2023.
- Additionally, the
Company continually reviews and evaluates its procedures in order
to optimize and ensure compliance at all levels of sample data
collection and handling.
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Section 2 – Reporting of
Exploration Results
Criteria
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JORC Code explanation
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Commentary
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Mineral tenement
and land tenure
status
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- Type, reference
name/number, location and ownership including agreements or
material issues with third parties such as joint ventures,
partnerships, overriding royalties, native title interests,
historical sites, wilderness or national park and environmental
settings.
- The security of the
tenure held at the time of reporting along with any known
impediments to obtaining a licence to operate in the
area.
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- The Corvette
Property is comprised of 463 CDC claims located in the James Bay
Region of Quebec, with Patriot Battery Metals Inc. being the
registered title holder for all of the claims. The northern border
of the Property's primary claim block is located within
approximately 6 km to the south of the Trans-Taiga Road and
powerline infrastructure corridor. The CV5 Spodumene Pegmatite is
situated approximately 13.5 km south of the regional and
all‑weather Trans-Taiga Road and powerline
infrastructure. The CV13 and CV9 spodumene pegmatites are located
approximately 3 km west-southwest and 14 km west of CV5,
respectively.
- The Company holds
100% interest in the Property subject to various royalty
obligations depending on original acquisition agreements. DG
Resources Management holds a 2% NSR (no buyback) on 76 claims,
D.B.A. Canadian Mining House holds a 2% NSR on 50 claims (half
buyback for $2M), Osisko Gold Royalties holds a sliding scale NSR
of 1.5-3.5% on precious metals, and 2% on all other products, over
111 claims, and Azimut Exploration holds a 2% NSR on 39
claims.
- The Property does
not overlap any atypically sensitive environmental areas or parks,
or historical sites to the knowledge of the Company. There are no
known hinderances to operating at the Property, apart from the
goose harvesting season (typically mid-April to mid-May) where the
communities request helicopter flying not be completed, and
potentially wildfires depending on the season, scale, and
location.
- Claim expiry dates
range from February 2025 to November 2026.
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Exploration done
by other parties
|
- Acknowledgment and
appraisal of exploration by other parties.
|
- No core assay
results from other parties are disclosed herein.
- The most recent
independent Property review was a technical report titled "NI
43-101 Technical Report, Mineral Resource Estimate for the CV5
Pegmatite, Corvette Property, James Bay Region, Québec, Canada", by
Todd McCracken, P.Geo., of BBA Engineering Ltd., and Ryan
Cunningham, M.Eng., P.Eng., of Primero Group Americas Inc.,
Effective Date of June 25, 2023, and Issue Date of September 8,
2023.
|
Geology
|
- Deposit type,
geological setting and style of mineralization.
|
- The Property
overlies a large portion of the Lac Guyer Greenstone Belt,
considered part of the larger La Grande River Greenstone Belt and
is dominated by volcanic rocks metamorphosed to amphibolite facies.
The claim block is dominantly host to rocks of the Guyer Group
(amphibolite, iron formation, intermediate to mafic volcanics,
peridotite, pyroxenite, komatiite, as well as felsic volcanics).
The amphibolite rocks that trend east-west (generally steeply south
dipping) through this region are bordered to the north by the Magin
Formation (conglomerate and wacke) and to the south by an
assemblage of tonalite, granodiorite, and diorite, in addition to
metasediments of the Marbot Group (conglomerate, wacke). Several
regional-scale Proterozoic gabbroic dykes also cut through portions
of the Property (Lac Spirt Dykes, Senneterre Dykes).
- The geological
setting is prospective for gold, silver, base metals, platinum
group elements, and lithium over several different deposit styles
including orogenic gold (Au), volcanogenic massive sulfide (Cu, Au,
Ag), komatiite-ultramafic (Au, Ag, PGE, Ni, Cu, Co), and pegmatite
(Li, Ta).
- Exploration of the
Property has outlined three primary mineral exploration trends
crossing dominantly east-west over large portions of the Property –
Golden Trend (gold), Maven Trend (copper, gold, silver), and CV
Trend (lithium, tantalum). The CV5 and CV13 spodumene pegmatites
are situated within the CV Trend. Lithium mineralization at the
Property, including at CV5, CV13, and CV9, is observed to occur
within quartz-feldspar pegmatite, which may be exposed at surface
as high relief 'whale-back' landforms. The pegmatite is often very
coarse-grained and off-white in appearance, with darker sections
commonly composed of mica and smoky quartz, and occasional
tourmaline.
- The lithium
pegmatites at Corvette are categorized as LCT Pegmatites. Core
assays and ongoing mineralogical studies, coupled with field
mineral identification and assays, indicate spodumene as the
dominant lithium-bearing mineral on the Property, with no
significant petalite, lepidolite, lithium-phosphate minerals, or
apatite present. The pegmatites also carry significant tantalum
values with tantalite indicated to be the mineral
phase.
|
Drill hole
Information
|
- A summary of all
information material to the understanding of the exploration
results including a tabulation of the following information for all
Material drill holes:
- easting and
northing of the drill hole collar
- elevation or RL
(Reduced Level – elevation above sea level in metres) of the drill
hole collar
- dip and azimuth of
the hole
- down hole length
and interception depth
- hole
length.
- If the exclusion of
this information is justified on the basis that the information is
not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly
explain why this is the case.
|
- Drill hole
attribute information is included in a table herein.
- Pegmatite
intersections of <2 m are not typically presented as they are
considered insignificant.
|
Data aggregation
methods
|
- In reporting
Exploration Results, weighting averaging techniques, maximum and/or
minimum grade truncations (eg cutting of high grades) and cut-off
grades are usually Material and should be stated.
- Where aggregate
intercepts incorporate short lengths of high grade results and
longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such
aggregations should be shown in detail.
- The assumptions
used for any reporting of metal equivalent values should be clearly
stated.
|
- Length weighted
averages were used to calculate grade over width.
- No specific grade
cap or cut-off was used during grade width calculations. The
lithium and tantalum length weighted average grade of the entire
pegmatite interval is calculated for all pegmatite intervals over 2
m core length, as well as higher grade zones at the discretion of
the geologist. Pegmatites have inconsistent mineralization by
nature, resulting in some intervals having a small number of poorly
mineralized samples included in the calculation. Non-pegmatite
internal dilution is limited to typically <3 m where relevant
and intervals indicated when assays are reported.
- No metal
equivalents have been reported.
|
Relationship
between
mineralization
widths and
intercept lengths
|
- These relationships
are particularly important in the reporting of Exploration
Results.
- If the geometry of
the mineralization with respect to the drill hole angle is known,
its nature should be reported.
- If it is not known
and only the down hole lengths are reported, there should be a
clear statement to this effect (eg 'down hole length, true width
not known').
|
- At CV5, geological
modelling is ongoing on a hole-by-hole basis and as assays are
received. However, current interpretation supports a principal,
large pegmatite body of near vertical to steeply dipping
orientation, flanked by several subordinate pegmatite lenses
(collectively, the 'CV5 Spodumene Pegmatite')
- At CV13, geological
modelling is ongoing on a hole-by-hole basis and as assays are
received. However, current interpretation supports a principal
upper and lower pegmatite body, each trending sub-parallel to each
other with a shallow northerly dip (collectively, the 'CV13
Spodumene Pegmatite')
- At CV9, geological
modelling is ongoing on a hole-by-hole basis and as assays are
received. However, current interpretation indicates CV9 is
comprised of a single principal dyke, which outcrops at surface,
has a steep northerly dip, and is moderately plunging to the
east-southeast. A strike length of 450 m has been delineated
through drilling and outcrop.
- All reported widths
are core length. True widths are not calculated for each hole due
to the relatively wide drill spacing at this stage of delineation
and the typical irregular nature of pegmatite, as well as the
varied drill hole orientations. As such, true widths may vary
widely from hole to hole.
|
Diagrams
|
- Appropriate maps
and sections (with scales) and tabulations of intercepts should be
included for any significant discovery being reported These should
include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
|
- Please refer to the
figures included herein as well as those posted on the Company's
website.
|
Balanced
reporting
|
- Where comprehensive
reporting of all Exploration Results is not practicable,
representative reporting of both low and high grades and/or widths
should be practiced to avoid misleading reporting of Exploration
Results.
|
- Please refer to the
table(s) included herein as well as those posted on the Company's
website.
- Results for
pegmatite intervals <2 m are not reported.
|
Other substantive
exploration data
|
- Other exploration
data, if meaningful and material, should be reported including (but
not limited to): geological observations; geophysical survey
results; geochemical survey results; bulk samples – size and method
of treatment; metallurgical test results; bulk density,
groundwater, geotechnical and rock characteristics; potential
deleterious or contaminating substances.
|
- The Company is
currently completing site environmental work over the CV5 and CV13
pegmatite area. No endangered flora or fauna have been documented
over the Property to date, and several sites have been identified
as potentially suitable for mine infrastructure.
- The Company has
completed a bathymetric survey over the shallow glacial lake which
overlies a portion of the CV5 Spodumene Pegmatite. The lake depth
ranges from <2 m to approximately 18 m, although the majority of
the CV5 Spodumene Pegmatite, as delineated to date, is overlain by
typically <2 to 10 m of water.
- The Company has
completed preliminary metallurgical testing comprised of HLS and
magnetic testing, which has produced 6+% Li2O spodumene
concentrates at >70% recovery on both CV5 and CV13 pegmatite
material, indicating DMS as a viable primary process approach, and
that both CV5 and CV13 could potentially feed the same process
plant. A DMS test on CV5 Spodumene Pegmatite material returned a
spodumene concentrate grading 5.8% Li2O at 79% recovery,
strongly indicating potential for a DMS only operation to be
applicable.
- Various mandates
required for advancing the Project towards economic studies have
been initiated, including but not limited to, environmental
baseline, metallurgy, geomechanics, hydrogeology, hydrology,
stakeholder engagement, geochemical characterization, as well as
transportation and logistical studies.
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Further work
|
- The nature and
scale of planned further work (eg tests for lateral extensions or
depth extensions or large-scale step-out drilling).
- Diagrams clearly
highlighting the areas of possible extensions, including the main
geological interpretations and future drilling areas, provided this
information is not commercially sensitive.
|
- The Company intends
to continue drilling the pegmatites of the Corvette Property,
focused on the CV5 Pegmatite and adjacent subordinate lenses, as
well as the CV13 Pegmatite. A follow-up drill program at the CV9
Spodumene Pegmatite is also anticipated.
|
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SOURCE Patriot Battery Metals Inc.